NZDUSD - Bearish flag break out

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
275 3
I'm not a particularly big fan of shorting the Kiwi considering the interest rate difference. However, for those who don't mind the -ve swaps, the bearish flag on NZDUSD offers a great opportunity to short NZDUSD towards 0.7742 and 0.7455 on a retest to 0.78772
I agree and you post many good trades that have put pips in my pocket ), just wonder if the 0.7814 support will hold. That will be my TP 1 and then the 0.7741 as TP 2. what do you think
+1 Reply
It should reg. 7814, which will see a bounce back higher to test the breakout entry. If 7814 support fails, you can be sure of 0.77417 very likely to see a bounce. Also ahead is 7816 level to keep an eye out on. Today will mark the 3rd day of decline from daily charts after that bearish spike/pin bar, so a retracement is definitely likely. Look to H4 or H1 candlesticks as they signal early on about possible change in direction.

I'm surprised you are short on NZDUSD.
FOREXEL justatrader
Will do, thank you )
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